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State Taxes at a Glance
from:State taxes are enforced contributions levied upon individuals by their state of residence. Except for Alaska, Washington, Nevada, Wyoming, South Dakota, Texas and Florida, every state in the union imposes a state tax in the form of a percentage to a resident's income. These percentage rates can vary from the highest at 9.5% for Vermont residents to a low of 3% for residents of Illinois. States such as Tennessee and New Hampshire only allow a state tax on interest and dividend income. State taxes are collected annually and are combined with other forms of direct and indirect tax contributions to pay for state facilities, programs and services.
The majority of states apply a tax rate to incomes on a progressive scale. The larger a resident's income, the more tax they will pay. While a lack of state taxes can sound promising, those not enforcing this type of tax generally obtain their revenues elsewhere, often through sales or excise taxes. Purchasing goods or cigarettes and alcohol tend to be higher in states such as Washington than they are in North Carolina. There is much debate as to the benefits of this type of taxation as it can be a plus or minus for both individuals and businesses. States such as Nevada obtain proceeds by means of their renowned gambling industry.
When and where warranted, state taxes are filed annually with federal taxes. Because tax laws vary from state to state, each will have their own type of tax forms. Like federal returns, taxpayers can opt for a long form or a short form. Individuals and businesses with more complex tax returns usually rely on the services of a professional tax preparer. This is especially true when businesses or individuals divide their time or make income in multiple states. While these forms are widely available in places such as post offices and libraries, now more than ever taxpayers file their federal and state taxes online.
Unless one applies for an extension, state taxes are filed every year by a certain date in the month of April. While it can vary from state to state, individuals in the military or those who fall under certain income guidelines are the only ones who may not be required to file. It is best to always obtain the advice of a tax professional when questions about federal or state taxes arise. The penalties with accruals that come with failure to file or file correctly based on deceptive or frivolous intent can make for a most uncomfortable situation. In worst case scenarios and offenses, individuals can face imprisonment.
Property Tax News
Property tax roll-up is on the table - Gainesville Times
Property tax roll-up is on the table Gainesville Times By Ashley Fielding afielding@gainesvilletimes.com Gainesville officials facing uncertainty on property assessments inside the city limits may have to consider increasing the tax rate on property owners next year. In a daylong retreat to discuss ... |
A lower property tax bill could be in your future - The Durango Herald
A lower property tax bill could be in your future The Durango Herald By Heather Scofield Ina day and age of seemingly ever-rising costs, many La Plata County residents will find the property tax bills arriving in their mailboxes soon are lower than last year. “Most people's taxes will go down,” said Craig Larson, ... |
Property Tax Grip - WETM-TV
Property Tax Grip WETM-TV Corning, NY - The two percent property tax cap could force local programs to be cut. Steuben County's Administrator Mark Alger said the county is struggling to pay for state mandated programs with tax cap limitations. Local programs like the 9-1-1 ... Alger: Mandate relief badly needed |
Property Tax Bills Shock Attleboro Fraternal Clubs - WLNE-TV (ABC6)
 Attleboro Sun Chronicle | Property Tax Bills Shock Attleboro Fraternal Clubs WLNE-TV (ABC6) By Abbey Niezgoda - email Two non-profits in Attleboro are getting slapped with property tax bills for the first time. The Knights of Columbus and the Moose Lodge both thought they were exempt because they are charitable organizations. Area fraternal clubs blindsided by property tax bills |
Property tax payers need to know new laws - Camarillo Acorn
Property tax payers need to know new laws Camarillo Acorn By Debra C. Cohen Certain portions of property tax bill payments still qualify as itemized deductions on income tax returns, but for the 2012 reporting year, California taxpayers who itemize their returns will be required to report both the deductible ... Why most homes should be excluded from AV amendments |